All Forum Posts by: Taylor Colligan

Hi all!

I am currently trying to close on a 6-plex but am having a hard time finding good lenders. I am out of state so I need to find a lender that will deal with that. I am open to commercial loans and private loans. If any of you have recommendations I would appreciated it. Thank you!

@Aaron Taylor they are all mostly one bedroom. It is a very well taken care of property. It says it’s about 9 miles exactly south of Overland Park. I’m not sure if that’s considered the urban area or not.

I am currently looking into buying a 9 unit building in Stillwell Kansas. Just south of Overland park. I am not very familiar with the area so I am looking for some guidance. They are all mostly renting for about 400-500 a unit, when I run a rentometer report it says the median close to that area is around 800-900. Would this area rent as well as that report is saying? Trying to get current leases from owner to find out how long I am stuck into these rents. My question, is this area worth investing in? Can I bank on getting those rent rates as reported by rentometer?

When it comes to the VA loan. Can you use that on an investment property or does that have to be primary residents as well?

@Aaron K. Thank you for the information. I figured that was the case but just wanted to make sure.

My little brother and I are looking into investing in a multifamily unit. I currently have an FHA loan in my name for my primary residence. However, he does not. My question, can you get an FHA loan on a property that is not your primary residence?

I am in the process of buying land and building an industrial building. Planning on initial financing with private money. I will then build equity and refinance. I am not from Phoenix so hoping to get some referrals for a good commercial lender. Thank you!

@Pooja More sorry it’s taken me so long to respond.  I actually ended up going with another company. It’s called the home river group and their corporate offices are in Boise Idaho which is close to me. They have offices in numerous states. They have been great to work with. 

http://www.homeriver.com/

Hi everyone!

I am in the process of negotiating a deal for 5 single family homes in KC Missouri and will buy them as a package. I am hoping to get some ideas on how to finance this deal other than doing 5 separate conventional loans. Is anyone aware of lenders in KC that will do portfolio lending or anything of that sort. Also open to any creative ideas of how to finance this. I thank you in advance for your input.

Thank you everyone for your input. As a new investor it is very helpful to get advice and points of view from experience investors like yourselves. I will let you know how the deal goes, I have a lot to think about!